Check the recognized overseas pension schemes notification list
The following schemes in the QROPS List India September 2024 have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).
QROPS List India September 2024
| ROPS | Country |
|---|---|
| ABSLI Guaranteed Annuity Plus | India |
| Bajaj Allianz Life Guaranteed Pension Goal | India |
| Bajaj Allianz Life Saral Pension | India |
| Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan | India |
| HDFC Life Assured Pension Plan | India |
| HDFC Life Click 2 Retire | India |
| HDFC Life Guaranteed Pension Plan | India |
| HDFC Life New Immediate Annuity Plan | India |
| HDFC Life Pension Guaranteed Plan | India |
| HDFC Life Smart Pension Plan | India |
| HDFC Life Smart Pension Plus | India |
| HDFC Life Systematic Pension Plan | India |
| ICICI Pru Easy Retirement | India |
| ICICI Pru Easy Retirement SP | India |
| ICICI Pru Guaranteed Pension Plan | India |
| Kotak Assured Pension Plan | India |
| Kotak Lifetime Income Plan | India |
| LIC’s Jeevan Akshay — VII | India |
| LIC’s New Jeevan Shanti | India |
| Max Life Forever Young Pension Plan | India |
| Max Life Guaranteed Lifetime Income Plan | India |
| Max Life Smart Guaranteed Pension Plan | India |
| Max Life Smart Wealth Annuity Guaranteed Pension Plan | India |
| SBI Life — Smart Annuity Plus | India |
| TATA AIA Fortune Guarantee Retirement Ready | India |
| Tata AIA Life Insurance Fortune Guarantee Pension | India |
| Tata AIA Life Insurance Saral Pension | India |
| Tata AIA Life Insurance Smart Annuity Plan | India |
Indians who have lived and worked in the UK should consider transferring their pensions to India through a QROPS-approved scheme. This move helps avoid UK taxes, ensures payments in INR, and eliminates currency conversion losses. With India’s strong economic growth, pension funds can benefit from better investment opportunities. QROPS also bypasses UK inheritance tax, allowing full pension benefits for your heirs. Flexible payout options and lower tax liabilities make it a smart choice for those retiring in India. If you’re planning to move back, transferring your pension secures your financial future with better control and returns.
Click here for the previous list.